KUALA LUMPUR (Aug 19): Home improvement retailer MR DIY Group (M) Bhd is confident that the customer traffic will improve and remains upbeat about the prospect of the local retail industry post pandemic, according to its CEO, Adrian Ong.

Speaking at the MIDF Conversation webinar today, Ong pointed out that despite the lockdown restrictions and various strict measures, he believes that the group is "lucky" to be able to operate amid the pandemic.

"We have been really fortunate. We are essential goods retailer and for the better part, most of our stores have been allowed to stay open during this pandemic.

"The working-from-home arrangements have continued to support us as consumers continue to look for necessary items like adapters, electrical items, etc.

"However, MR Toy has stayed closed during this period, so that has a reversal effect on us. Overall, we are fortunate to be allowed to open our stores and service the communities," he said.

He also added that the group is targeting over 100 million transactions per year across its stores, representing three times of the Malaysian population size.

"In a typical month, we are seeing 10 million transactions, which we thank the consumers as we provide essentials for every household in the country.

"Hence, we believe Malaysia's market is already big enough for us," Ong stressed.

On the e-commerce front, he highlighted the group's proportion revenue from the segment is relatively small and it has fully invested in its e-commerce offering through warehouse facilities in Seri Kembangan, Selangor.

"Our formula is really to provide efficiency and we have a fundamental advantage over e-commerce marketplaces as we have significant ability to offer omnichannel ecommerce," he said.

Earlier this month, the group highlighted its net profit jumped 44.14% in the second quarter ended June 30, 2021 (2QFY21) to RM82.13 million from RM56.98 million in the corresponding quarter last year, when the group's operations were impacted by the first Movement Control Order.

Quarterly revenue rose 47.06% to RM759.82 million from RM516.66 million, supported by contributions from new stores.

It also declared an interim single tier dividend of RM37.66 million or 0.6 sen per share, to be paid on Sept 23. This brings its total payout for the year so far to 1.4 sen per share.

At noon break today, shares in MR Diy ended nine sen or 2.37% higher at RM3.88, giving it a market capitalisation of RM24.35 billion. Year to date, the stock has risen by 23.57%.